Selectis Health Enters Definitive Purchase and Sale Agreement for Sparta and Warrenton Transitional Care Facilities in Georgia, capping a strong organizational finish to 2025

Rhea-AI Summary

Selectis Health (OTC:GBCS) entered a definitive Purchase and Sale Agreement to sell two Georgia skilled nursing properties — Providence of Sparta and Warrenton Health & Rehabilitation — for $13,175,000, subject to customary prorations, holdbacks and adjustments. The target closing date is February 1, 2026. Post-transaction Selectis will continue to operate remaining facilities including Eastman and Glen Eagle in Georgia.

2025 highlights cited include $1,484,703.19 of Georgia bed taxes paid down, occupancy gains at Southern Hills (from 55–61% to 68–71%), Park Place census growth (from 48 to 65 patients and skilled patients from 1 to 10), and an upgrade to the OTCQB in June 2025.

Positive

• Sale proceeds of $13.175M planned from two Georgia facilities
• Bed taxes paid of $1,484,703.19, improving cash flow
• Southern Hills occupancy up from 55–61% in 2024 to 68–71% in 2025
• Park Place census increased from 48 to 65 patients; skilled patients 1 to 10
• OTCQB upgrade completed in June 2025

Negative

• Sale reduces company-owned facility footprint in Georgia (two facilities sold)
• Transaction proceeds are subject to prorations, holdbacks and adjustments
• Closing is conditional with no assurance the PSA will be consummated by Feb 1, 2026

- Sparta and Warrenton Nursing Facilities and Related Property Sold for $13.18 Million -
- Selectis Recaps 2025 Developments and Organizational Outlook -

DENVER, Dec. 09, 2025 (GLOBE NEWSWIRE) -- Selectis Health, Inc. (OTC: GBCS) ("Selectis" or the "Company") announced that its wholly-owned subsidiaries, Providence HR, LLC and Atl/Warr, LLC (each a “Seller”), has executed and delivered a definitive Purchase and Sale Agreement (the “PSA”) to sell two properties located in Georgia, including the skilled nursing facilities known as Providence of Sparta Health & Rehab (collectively, “the Sparta Facility”), located in Sparta, Georgia, as well as Warrenton Health & Rehabilitation (collectively, “the Warrenton Facility”), located in Warrenton, Georgia. Pursuant to the PSA, The Woods at Sparta of Journey Propco LLC (the “Sparta Facility Purchaser”) and Warrenton Woods of Journey Propco LLC (the “Warrenton Facility Purchaser”) has purchased the two facilities for $13,175,000, subject to certain prorations, holdbacks, and adjustments customary in transactions of this nature. Subject to closing conditions, February 1, 2026 is the target date for deal completion.

Following completion of the transaction, the Company and its wholly owned affiliates will continue to own and operate existing facilities in the state of Georgia. This includes the Eastman Healthcare & Rehabilitation and Glen Eagle Nursing & Rehabilitation facilities. The Company’s total remaining footprint is summarized below:

Remaining Facilities Post-Transaction

Facility	Beds	Facility Type	State
Barnes Healthcare Skilled & Rehabilitation Center1	141	Skilled Nursing	AR
Eastman Healthcare & Rehabilitation	100	Skilled Nursing	GA
Glen Eagle Healthcare & Rehabilitation	101	Skilled Nursing	GA
Meadowview Healthcare & Rehabilitation	99	Skilled Nursing	OH
Higher Call Nursing Center	86	Skilled Nursing	OK
Maple Healthcare & Rehabilitation	29	Skilled Nursing	OK
Park Place Healthcare & Rehabilitation	106	Skilled Nursing	OK
Southern Hills Assisted Living Facility2	24	Assisted Living	OK
Southern Hills Rehabilitation Center2	106	Skilled Nursing	OK
Southern Hills Retirement Community2	90	Independent Living	OK

For more information on the transaction, please see the Company’s associated Form 8-K disclosure, filed on December 9, 2025.

Selectis Health 2025 Recap and Outlook
Adam Desmond, CEO of Selectis Health, commented on the Sparta and Warrenton definitive agreements as well as recent developments seen across the company in 2025. “The execution of the Sparta and Warrenton facility definitive agreements brings 2025 to a close on a positive note and caps a year of growth and change here at Selectis. If the PSA is consummated, of which there can be no assurance, it will be a testament to our operational improvement initiatives and will serve as an additional step towards greater organizational efficiency. If the transaction is completed, we expect the additional capital from the sale of the Sparta and Warrenton Properties to strengthen our balance sheet, retire existing debt and generate positive cash flow. We remain committed to operating a strong and efficient business, and today’s sale announcement is another step towards optimizing our facility footprint.

This progress can be seen across all of our facilities, with some of the most demonstratable impact shown at our Southern Hills and Park Place facilities. Our Southern Hills Facility located in Tulsa, Oklahoma has seen considerable improvements related to its building infrastructure and independent living community. These developments have driven growth in Southern Hills occupancy rates, from 55-61% in 2024 to 68-71% in 2025. In addition to higher occupancy and a more developed living community, Southern Hills has also improved the quality of its service, with our overall quality measurement rating improving in 2025 as measured by the Center for Medicare & Medicaid Services (CMS),” Desmond continued.

“Turning to our Park Place facility located in Oklahoma City, Oklahoma, we are extremely pleased with the recent developments that we have seen here. Earlier this year we brought in an outside operator to manage the Park Place facility, and in the few months since this change we have made great strides to improve the facility overall. These positive developments include optimizing our income statement in addition to expanding our patient base. As of our November 1, 2025 census, Park Place had 48 patients with 1 skilled patient. As of today, Park Place has 65 patients with 10 skilled patients, a demonstratable positive step forward in the occupancy and quality of the Park Place facility. Skilled patients receive a reimbursement rate up to 3 times that of unskilled patients. The success shown at Southern Hills and Park Place displays the ways that Selectis continues to evolve and highlights the impact that our facilities are making across our footprint.

As previously mentioned related to Southern Hills, we have seen positive growth in our CMS quality measurement ratings across our footprint. These measurements serve as a public scorecard that reflects our regulatory compliance, staffing stability and resident outcomes. We remain committed to improving our facilities across the board, and review facilities weekly in addition to calls with our regional directors to discuss facility operations. In the past few months, we have improved our quality measurement rating across all four of our Georgia facilities, including Eastman and Glen Eagle, as well as the Sparta and Warrenton facilities. This growth in Georgia alongside the previously discussed developments in Oklahoma illustrate our commitment to our patients and the facilities that we operate.

The improvement of our Georgia facility quality measurement ratings coincides with the resolution of our outstanding bed taxes within the state as well. Bed taxes related to our Georgia facilities were outstanding from September 2023, and across the past few months we have paid down $1,484,703.19 of these taxes. The 2024 and 2025 Georgia yearly incentive payments were approved by the Georgia Department of Health to offset outstanding bed taxes as of July 2025. This offsets our outstanding bed tax balance and allows us to improve cash flow moving forward.

Alongside facility improvements, Selectis had its common stock upgraded to the OTCQB under the ticker “GBCS” in June 2025. This upgrade represented a meaningful milestone in our strategy to increase visibility, improve liquidity and expand our investor reach. Our team has spent tremendous time and effort working to improve our facilities over the past year, and I would like to recognize the work done by our dedicated and talented employees across the country. As we look forward, I am encouraged by the significant improvements made during the year at Selectis and what lies ahead in 2026. We remain committed to both excellent patient care and maximizing shareholder value. Management and the Board will continue its laser focus on improving operations as well as reviewing all strategic opportunities to enhance shareholder value as we move into 2026.”

About Selectis Health
Selectis Health owns and/or operates healthcare facilities in Arkansas, Georgia, Ohio, and Oklahoma, providing a wide array of living services, speech, occupational, physical therapies, social services, and other rehabilitation and healthcare services. Selectis focuses on building strategic relationships with local communities in which its partnership can improve the quality of care for facility residents. With its focused growth strategy, Selectis intends to deepen its American Southcentral and Southeastern market presence to better serve the aging population along a full continuum of care.

For more information, please visit www.selectis.com.

Forward Looking Statements

This press release contains statements that plan for or anticipate the future. In this press release, forward-looking statements are generally identified by the words “anticipate,” “plan,” “believe,” “expect,” “estimate,” and the like. These forward-looking statements include, but are not limited to, statements regarding the following:

	*	strategic business relationships;
	*	statements about our future business plans and strategies;
	*	anticipated operating results and sources of future revenue;
	*	our organization’s growth;
	*	adequacy of our financial resources;
	*	development of markets;
	*	competitive pressures;
	*	changing economic conditions; and,
	*	expectations regarding competition from other companies.
	*	the duration and scope of the COVID-19 pandemic
	*	the impact of the COVID-19 pandemic on occupancy rates and on the operations of the Company’s facilities.
	*	Actions governments take in response to the COVID-19 pandemic, including the introduction of public health measures and other regulations affecting our properties and our operations.
	*	The effects of health and safety measures adopted by us in response to the COVID-19 pandemic.
	*	Increased operational costs because of health and safety measures related to COVID-19.
	*	Disruptions to our property acquisition and disposition activities due to economic uncertainty caused by COVID-19.
	*	General economic uncertainty in key markets as a result of the COVID-19 pandemic and a worsening of global economic conditions or low levels of economic growth.

Although we believe that any forward-looking statements, we make in this press release are reasonable, because forward-looking statements involve future risks and uncertainties, there are factors that could cause actual results to differ materially from those expressed or implied. For example, a few of the uncertainties that could affect the accuracy of forward-looking statements, besides the specific factors identified above in the Risk Factors section of this press release, include:

	*	changes in general economic and business conditions affecting the healthcare industry;
	*	developments that make our facilities less competitive;
	*	changes in our business strategies;
	*	the level of demand for our facilities; and
	*	regulatory changes affecting the healthcare industry and third-party payor practices.

Investor Relations Contact
Scott Liolios or Patrick Hall
Gateway Group, Inc.
(949) 574-3860
selectis@gateway-grp.com

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¹ Leased facilities operated by third parties.
² All located on the same campus in Tulsa, OK.

FAQ

What did Selectis Health (GBCS) announce on December 10, 2025 about Sparta and Warrenton?

Selectis announced a definitive PSA to sell Providence of Sparta and Warrenton facilities for $13,175,000, with a target closing of Feb 1, 2026.

How will Selectis use the $13.175M from the sale of the Sparta and Warrenton facilities?

Management said proceeds are expected to strengthen the balance sheet, retire existing debt and generate positive cash flow if the transaction closes.

How many facilities and beds will Selectis operate after the Sparta and Warrenton sale (GBCS)?

Post-transaction the company will continue operating listed facilities including Eastman and Glen Eagle; the release includes a table of remaining facilities and bed counts.

What operational improvements did Selectis cite in 2025 for Southern Hills and Park Place (GBCS)?

Southern Hills occupancy rose from 55–61% to 68–71%; Park Place census rose from 48 to 65 patients and skilled patients from 1 to 10.

When is the Selectis (GBCS) transaction expected to close and are there conditions?

The target closing date is February 1, 2026 and the sale is subject to customary prorations, holdbacks, adjustments and closing conditions.

Did Selectis report any tax or regulatory developments in 2025 related to Georgia facilities?

Yes; the company reported paying down $1,484,703.19 of outstanding Georgia bed taxes and stated 2024–2025 Georgia incentives were approved to offset outstanding balances.